Refusing to Be Left Behind, Solana Will Launch Spot ETF!


"Hmm is it possible to go to the Solana ETf spot first approved before Ethereum?"

The cryptocurrency world will soon be rocked by a new hot topic regarding the spot ETF Solana (SOL) which is currently on its way to being introduced in North America by a Canadian-based federal organization SOLWealth.

Following the introduction of spot BTC ETF in the United States (US) has increased interest in ETFs, SOLWealth plans to capitalize on the positive momentum by submitting a prospectus for spot ETF SOL to the Canadian authorities.

Many applications have been made in response to the popularity of BTC ETFs in the US which managed to raise an impressive $53 billion this year, among the biggest contributors being BlackRock and Fidelity Investments.

The Spot SOL ETF will only focus on the SOL token, therefore the existing diversification of regular ETFs will not be available with the SOL ETF instead it will provide a way to further highlight the performance of the digital asset.

Pleased to note that SOL known for its low transaction costs and scalability may have the second highest chance of being approved as an ETF following its market valuation of $60.2 billion.

As such, the platform will be more capable of supporting larger projects and applications including providing investors with diversification in the ETF market thus gaining more traction.

As of this writing, SOL price trading at $135 has recorded a 0.11% gain in the last 24 hours with a market capitalization of over $60 billion then a 12.71% decline over the last week.